CB Richard Ellis Office Market Survey Q2 2008


Creative Commons License photo credit: Joshua Davis (jdavis.info)

CB Richard Ellis – Albany has released the Office Market Survey for the second quarter of 2008. The survey reports increased office vacancy throughout the Capital Region during the second quarter, while lease rates remained relatively flat. The vacancy rate for all office classes across the region stood at 11.2 percent, up from 10.4 percent in fall 2007.  Nationally, the second quarter office vacancy rate was 13.6 percent.

The vacancy rate across all office classes in downtown Albany increased from 10.7 percent (fall 2007) to 12.7 percent. Downtown Schenectady had the lowest city office vacancy rate, 5.6 percent.

The survey was reported in the Times-Union and Business Review newspapers.

Advertisements

About Gary Snowdon, ASA

Commercial Real Estate Appraiser in New York State's Hudson Valley, Capital, Saratoga, and Adirondack Regions.
This entry was posted in Capital Region, Office. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s